prospectus for 11-14-2015 coolley real estate auction, centralia, mo
DESCRIPTION
Audrain County Real Estate & Personal Property Auction. 777± Acres offered in 7 Tracts in T51N-R10W-Sec5,6,8. Homes on 2 Tracts. Two Homes & Buildings. Tractor, Farm Machinery, Trucks, Tools, Antiques & Collectibles, ATV.TRANSCRIPT
IN WITNESS WHEREOF, the parties have executed this Agreement in three coun-
terparts, each of which shall be deemed an original instrument, as of the day, month
and year first above written.
SELLER: PURCHASER:
________________________ _______________________
________________________ _______________________
________________________ _______________________
________________________ _______________________
Address________________ Address________________
_______________________ _______________________
City, State, Zip __________ City, State, Zip __________
_______________________ _______________________
Phone _________________ Phone _________________
Email __________________ Email __________________
Date __________________ Date __________________
Lender Contact __________
_______________________
TITLE COMPANY INFORMATION:
Name __Audrain County Title Company____________________________
Address _120 N. Jefferson, Mexico, MO 65265_________________________
Phone __(573) 581-5136______________________________________
Audrain County REAL ESTATE &
PERSONAL PROPERTY AUCTION
Seller: Truman Coolley Trust
For more information call Charlie Nordwald
636-795-4552.
AUCTION & PROPERTY LOCATION: From Hwy 22 on the North edge of Centralia, MO, turn and go north 1/2
mile on Hwy C/Jefferson Street, across from McDonalds, to Mockbee Road which turns into Audrain County
Road 214, turn Right and go East 3.5 miles to farm on the Left.
An outstanding Audrain County Real Estate Auction selling for the first time in one hundred
years. 789.9 total acres, of which the Audrain County FSA office indicates there are 730.22
acres of cropland, along with two homesteads, offered in 6 tracts ranging from 5.2 acres to
282.8 acres. The farm is located in Township 51 N, Range 10 W, Sections 5, 6 and 8.
SATURDAY, NOV. 14, 2015 AT 10 A.M.
14. IRS 1031 TAX EXCHANGE DECLARATION (Optional):
It is agreed between the purchaser(s) and seller(s) that a material part of the consideration to
the Purchasers for purchasing is that the Purchaser has the option to qualify this transaction as
part of a tax-deferred exchange under Section 1031 of the Internal Revenue Code of 1986 as
amended. Sellers agree that Purchaser may assign this Agreement to an exchange interme-
diary of Purchasers choice. Purchaser agrees that any and all additional expense, if any, shall
be borne by Purchaser and Sellers agree to fully cooperate to complete the exchange.
Seller hereunder desires to exchange, for other property of like kind and qualifying use within
the meaning of Section 1031 of the Internal Revenue Code of 1986, as amended and the
Regulations promulgated there under, fee title in the property which is the subject of this Con-
tract. Seller expressly reserves the right to assign its rights, but not its obligations, hereunder to
a Qualified Intermediary as provided in IRC Reg. 1.1031(k)-1(g)(4) on or before the closing
date.
15. MISCELLANEOUS:
(a) Jurisdiction. This agreement shall be construed in accordance with the laws of the State
of Missouri. Any provision of this Agreement which is unenforceable or invalid, or the inclusion
of which would affect the validity, legality, or enforcement of this Agreement shall be of no
effect, but all the remaining provisions of the Agreement shall remain in full force and effect.
(b) Entire Agreement. This Agreement contains the entire agreement of the parties and no
representations, warranties or agreements have been made by either of the parties except as
set forth in this Agreement.
(c) Heirs, Successors and Assigns. This Agreement shall ensure to the benefit of and shall be
binding upon the Seller and Purchaser and their respective heirs, successors, and permitted
assigns, provided, however, that Purchaser may not assign its rights or obligations hereunder
without the prior written consent of the Seller.
(d) Time is Of the Essence. The time for performance of the obligations of this Agreement is of
the essence.
(e) Notice. All notices shall be in writing and shall be deemed to have been properly deliv-
ered as of the time of delivery if personally delivered or as of the time deposited in the mail
systems if sent by United States certified mail, return receipt requested, and postage prepaid.
16. FSA/NRCS: Seller is obligated to maintain (if any) the current FSA Program and Basis on the
above listed real estate. Buyer agrees to the division of FSA Program data as a percent of
cropland acres per tract. Buyer assumes the responsibility of any and all FSA or NRCS Pro-
grams currently in place. Buyer will be required to maintain and comply with FSA regulations
of the CRP contract.
17. Tenant Rights: The tenant rights have been terminated as of this crop year, so the new buy-
er(s) will get possession and farming rights at closing.
18. SPECIAL AGREEMENTS (if any):
___________________________________________________________________________________________
___________________________________________________________________________________________
___________________________________________________________________________________________
___________________________________________________________________________________________
In the event of failure of Seller to perform the obligations imposed by this Agreement, Purchaser’s
sole remedy hereunder is to terminate this Agreement and receive a refund of the Earnest Money
upon similar notice served upon Seller and similar expiration time period.
The Escrow Agent, upon receiving an affidavit from the non-defaulting party stating that this
Agreement has been terminated as provided herein, shall be entitled to rely upon such affidavit
and shall deliver the earnest money to the non-defaulting party.
11. ENVIRONMENTAL: The Purchaser acknowledges that the Seller has not made and hereby dis-
claims any and all representations and warranties, either express or implied, regarding the envi-
ronmental condition of the Property. The Purchaser shall rely upon its own independent investiga-
tion, inspection, inquiry, analysis, and due diligence to evacuate and ascertain the environmental
condition of the Property. The Purchaser has been advised that the Property is being sold “as is,
where is” and that Seller is not representing or warranting that the condition of the Property is in
accordance or compliance with any past, present, or future federal, state or local environmental
laws, regulations, requirements, or standards.
As a matter of corporate policy, Seller makes it a practice to expressly advise any purchaser that
the improvements on the Property include materials, which may contain asbestos, and encour-
ages Purchaser to investigate specifically whether asbestos containing materials exist on the Prop-
erty.
12. PROVISIONS RELATING SPECIALLY TO SELLER/TRUST/ TRUSTEES/ EXECUTOR AND THEIR RESPECTIVE
SPECIAL CIRCUMSTANCES: Trustee/Executor Disclaimer. Each fiduciary comprising Seller executes
this instrument only in its representative capacity and shall not be bound or obligated hereunder
except in such capacity. Purchaser acknowledges and agrees that this Agreement is made by
such fiduciaries solely in their fiduciary capacity as described in the signatures affixed hereto, and
that such fiduciaries shall not be liable for any breach or any failure to perform any obligation un-
der this Agreement except from assets held in the fiduciary capacity described.
13. PROVISIONS RELATING TO THE AUCTION COMPANY/ AUCTIONEER/BROKERS/FINDERS/AGENTS:
(a) This Agreement is solely between Seller and Purchaser. Wheeler Auctions & Real Estate, L.L.C.
(the “Auction Company”) and its licensed auctioneers are employed by the Seller. The Auction
Company and its auctioneers shall not be liable for any patent or latent defects or deficiencies
existing in the Property, improvements or other appurtenant structures thereon, nor for any infor-
mation provided to the Purchaser. The Purchaser acknowledges that it has conducted its own
independent investigations, inspections, inquiries and due diligence concerning the Property.
(b) Commission. Notwithstanding any other provisions of this Agreement, the right to commission,
if any, payable to any agent representing either party to this Agreement shall not vest until the
transaction is closed, and shall be payable only out of proceeds of closing and said agent shall
have equal right to any portion of Earnest Money forfeitures.
For more information call Charlie Nordwald 636-795-4552.
Audrain County REAL ESTATE &
PERSONAL PROPERTY AUCTION
SATURDAY, NOV. 14, 2015 AT 10 A.M.
AUCTION & PROPERTY LOCATION: From Hwy 22 on the North edge of Centralia, MO, turn and go
north 1/2 mile on Hwy C/Jefferson Street, across from McDonalds, to Mockbee Road which turns
into Audrain County Road 214, turn Right and go East 3.5 miles to farm on the Left.
REAL ESTATE OPEN HOUSE WEDNESDAY, OCTOBER 28 FROM 2 PM TO 4 PM
Wheeler Auctions representatives will be available to
answer your questions about the real estate and auction method.
An outstanding Audrain County Real Estate Auction selling for the first time in one hundred
years. 789.9 total acres, of which the Audrain County FSA office indicates there are 730.22
acres of cropland, along with two homesteads, offered in 6 tracts ranging from 5.2 acres to
282.8 acres. The farm is located in Township 51 N, Range 10 W, Sections 5, 6 and 8.
REAL ESTATE: To sell at 12 noon on November 14
TRACT 1 & 3: Consists of 283.8 acres and has access in the very southwest corner off ACR 214. It is
all open and currently in crop production, the only portion not being farmed are some fence rows, a
small patch of woods on the north end and on the east side.
TRACT 2: Consists of 153.8 acres that lays just west of the homestead. It has frontage on ACR 214
along the south end. This tract is virtually all open, with the exception of a hedge row on the north-
east line, some scattered trees and a couple of ponds. It is currently in grass and being used for graz-
ing and hay production.
TRACT 4: Consists of 259.7 acres that lies all along ACR 217 on the east side. This tract lays great
and is currently being used for row crop production. It is all open with the exception of a tiny patch of
woods on the west side.
TRACT 5: Consists of 80.6 acres that has frontage and access from both ACR 217 on the east side
and ACR 214 on the south and west side. It is primarily all open and currently being farmed. The only
portion not being farmed is a narrow wooded draw, fence row and a couple waterways.
Tract 6: (Situs address for tract 6 is 12981 ACR 214, Centralia, MO 65240) This is the Truman Cool-
ley Homestead, it consist of 6.8 acres and will be accessed over the current driveway off ACR 214.
Improvements include the two story frame built house built in 1948 by S.T. Coolley. The home has 4
bedrooms, 1 and ½ baths (the full bath has a Jacuzzi tub), large kitchen with breakfast area, formal
dining room, living room, office area, and laundry on the main floor. The kitchen has oak cabinets,
Formica counter tops, and built-in appliances. There is a full masonry basement under the home that
has recently had drainage work done that includes a new sump and sump pump with a battery back-
up safety. The home is heated and cooled by an up-dated Lennox unit that heats with a LPG forced
air furnace and a central air unit.
There is a two car garage attached to the house through a breeze-way, the garage has two
doors each with their own electric opener.
The exterior of the home is stone and vinyl siding with a three year old metal roof. Water is
provided by two deep wells on this tract, plus rural water is available out at the county road.
Other improvements on this tract include a 54’ X 96’ Kamar pole frame machine shed, a
large barn, 3-5500 bushel Butler grain bins that were used this year, and other farm related out
buildings.
Tract 7: (Situs address 13377 ARC 214 Centralia, MO 65240) Consists of 5.2 acres that will be ac-
cessed over the current driveway off ACR 214. Improvements include a single story, frame house
that has two bedrooms, a full bath, living room, a large kitchen, and a large enclosed back porch.
The house has vinyl siding and a single roof.
Other improvements include a large detached garage with overhead doors and an older
frame style barn that was used for machinery storage and livestock production.
NOTE: Rural water is available on ACR 214.
New survey has been ordered and will be ready by early November.
(The tenant rights have been terminated as of this crop year,
so the new buyer(s) will get possession and farming rights at closing).
REAL ESTATE (CONTINUED) 4. SURVEY: If survey is necessary, survey shall be provided at Seller’s expense a new survey reflect-
ing the legal description, acreage and boundary lines for any Tract of the Property where there is
no existing legal description or where new boundaries are created by the divisions of Tracts at the
Auction. Any need for a survey shall be determined at the sole discretion of the Seller. If a new
survey is determined to be necessary by the Seller, the Purchase Price shall be adjusted to reflect
any difference between the bid acreage and the surveyed acreage. Purchaser will then have a
revised Purchase Price calculated by Multiplying the surveyed acreage by the actual Purchase
Price per Acre indicated in Paragraph 2.
5. CLOSING AND POSSESSION: The “Closing” shall take place on or before Dec. 14, 2015 at the
office of Audrain County Title Company and at a time designated by the Seller and agreed upon
by Purchaser. Concurrently with the Closing, Purchaser shall pay to the Seller the Purchase Price,
less the Earnest Money as provided for herein. Upon full receipt of the entire Purchase Price by
Seller, Seller shall deliver to Purchaser special warranty deeds from each selling entity conveying
title in the property to the Purchaser. Purchaser shall pay the charge for recording the Deed. Sell-
er and Purchaser agree to execute any real estate transfer declarations required by the state,
county or municipality in which the Property is located. The Seller and Purchaser agree to provide
and to execute such further documents as may be necessary or customary to close this Agree-
ment (e.g., Seller Affidavit; FITPTA Affidavit; Organizational documents and closing statement) and
equally for closing costs. Purchaser shall be entitled to possession of the property on the Closing
date.
6. CASUALTY: Seller will keep the Property and Improvements insured until closing. If the improve-
ments on the property are substantially damaged or destroyed by fire or other casualty prior to
closing, then Buyer will have the option of accepting all of the insurance proceeds and proceed-
ing to close this Agreement, or terminating this Agreement. If this Agreement is terminated due to
this paragraph then the earnest money will be returned to the Buyer.
7. WARRANTIES: Purchaser acknowledges that Purchaser has been given an opportunity for a full
inspection of the property and related information and further acknowledges with respect to this
agreement that Purchaser is satisfied in all respects with the condition of the Property and all mat-
ters pertaining thereto. Purchaser accepts the Property “as is” and in its present condition with
Purchaser assuming risk thereof. Purchaser understands that Seller makes no warranty or represen-
tation of any kind, either implied or expressed or arising by particular purpose of the Property or
any portion thereof, and in no event shall Seller be liable for consequential damages. Purchaser
acknowledges that Seller has not agreed to perform any work on or about the Property as a con-
dition of Purchaser’s purchase of it.
8. MINERAL RIGHTS: One hundred percent (100%) of the mineral rights owned by Seller with re-
spect to the Property, if any, shall be conveyed to Purchaser at Closing.
9. REAL ESTATE TAXES AND ASSESSMENTS: Real Estate taxes for the calendar year 2015 shall be pro-
bated to date of closing. Purchaser shall assume and pay real estate taxes for the Property for all
periods thereafter.
10. DEFAULT: If Purchaser fails to perform any obligation imposed by this Agreement, Seller may
serve written notice of default upon Purchaser and if such default is not corrected within ten (10)
days thereafter, then, at the option of the Seller, this Agreement shall terminate and the Seller shall
be entitled to retain the Earnest Money paid hereunder as liquidated damages. The foregoing
remedy in the event of default is not intended to be the exclusive remedy of Seller, and Seller shall
have the right to seek any other remedies available at law or equity, including but not limited to
specific performance. Default by Purchaser shall entitle Seller to court costs and reasonable attor-
ney’s fees incurred in enforcing the provision of this Agreement.
AGREEMENT TO PURCHASE REAL ESTATE AT PUBLIC AUCTION
THIS AGREEMENT TO PURCHASE REAL ESTATE AT PUBLIC AUCTION (later called the “Agreement”), made and entered into as of this 14th day of November, 2015 by and between ________________________________________________collectively later called the “Seller”), and________________________________________________________________________(later called the “Purchaser”), as the highest bidder on the property (as defined in Para-graph 1) at the public auction on this date (the “Auction”), is made subject to the fol-lowing terms, covenants and conditions: 1. PROPERTY: Seller agrees to sell and Purchaser agrees to purchase tract(s) ___________ sold as a total amount and/or tract(s) ____________ sold on a per acre basis with approxi-mately _____________ total acres of real estate situated in Audrain County, Missouri. Pur-chaser hereby acknowledges and understands that the Property is being sold on an “as is where is” basis. Purchaser further acknowledge that this Agreement is not contingent upon financing and that failure to close this transaction on or before Dec. 14, 2015 due to any delay caused by Purchaser shall constitute a forfeiture of the Earnest Money. 2. PURCHASE PRICE: Purchaser agrees to pay to the Seller the total sum of ____________________________________________________________________________________ (the “purchase price”) subject to acreage determination by survey. Purchase price is figured from: _____________________________________________________________________________________ _____________________________________________________________________________________ _______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Upon execution of this agreement, the Purchaser will pay by check and not in cash ___________________________________________________________________________________ (which amount is equal to ten percent (10%) of the Purchase Price as Earnest Money made payable to and to be held in the escrow account of Audrain County Title Com-pany as escrow agent, there under for delivery to the Seller at the time of closing or as otherwise provided for herein. The balance of the Purchase Price shall be paid by Purchaser to the Seller at closing in cash or form of payment acceptable to the Seller. 3. TITLE: Seller shall furnish Purchaser with an Owners Title Insurance Commitment (Title Commitment), issued by Audrain County Title Company. The cost of the title insurance premium will be split 50/50 between the seller and the buyer. The Title Commitment shall commit the subject title company to issue Purchaser its standard owner’s policy in the amount of the purchase price, showing title to the Property in the name of the Seller. In the event that the Seller is unable to convey the Property in accordance with the terms of this agreement, Purchaser shall elect to either (a) take the Property encum-bered with the objectionable exceptions to the title and waive any and all objections thereto without abatement of the Purchase Price, or (b) receive a refund of the Earnest Money, and upon such refund being made, this Agreement shall terminate and be of no further force and effect.
AUCTION TERMS AND CONDITIONS
Procedure: Property shall be sold Subject to Confirmation of Bid by Seller.
Down Payment: Ten percent (10%) down payment the day of auction, upon signing a pur-
chase agreement immediately following the close of bidding. The down payment may
be paid in the form of personal check, business check, or cashiers check. The remain-
der of the purchase price is payable at closing within 30 days. YOUR BIDDING IS NOT
CONDITIONAL UPON FINANCING, be sure you have arranged financing, if needed, and
are capable of paying the balance at closing.
Title: Split the cost of the title insurance 50/50 between the buyer and the seller.
Possession: Possession given at closing.
Mineral Rights: The sale shall include 100% of the mineral rights owned by the sellers.
Easements: Sale of the property is subject to any and all easements on record.
Acreage: All acreage is determined by current survey.
Taxes: Seller will pay for all 2015. Buyer will be responsible for 2016 and there after taxes.
Survey: Current survey with tract boundaries is complete.
Closing: Anticipated closing date shall be on or before Dec. 14, 2015 or on a date mutual-
ly agreed upon between the buyer(s) and the sellers conducted at the office of Au-
drain County Title Company, 120 N. Jefferson, Mexico, MO 65265, 573-581-5136.
Agency: Wheeler Auctions & Real Estate and its representatives are Exclusive Agents for
the sellers.
Disclaimer: The property is being sold on an “as is, where is” basis, and no warranty or rep-
resentation, either express or implied, concerning the property is made by either the
sellers or the auction company. Each bidder is responsible for conducting its own inde-
pendent inspections, investigations, and all due diligence concerning the property and
the auction. Information contained in this brochure is subject to verification by all par-
ties relying on it. Diagrams/dimensions in this brochure are approximate. Acreage is
estimated. All information contained in this brochure and any related materials are
subject to the terms and conditions of sale outlined in the purchase contract. Auction
conduct and bidding increments are at the sole direction and discretion of the auc-
tioneer. All decisions of the auctioneer are final. The sellers and the Auction Company
reserve the right to preclude anyone from bidding if there is a question as to the per-
son’s credentials, fitness, intent, etc.
New Data, Corrections and Changes: Please arrive prior to scheduled auction time to in-
spect any changes, corrections or additions to the property information. ALL AN-NOUNCEMENTS AND INFORMATION GIVEN FROM THE AUCTION PODIUM SHALL TAKE
PRECEDENCE OVER PREVIOUSLY PRINTED OR STATED ADVERTISEMENT.
PLAT MAP PERSONAL PROPERTY TRUCKS:
2008 Chevy Silverado 1500, 40,430
miles, Crew Cab, Auto, 4WD, 5.4
Vortec, 6’ Bed, Gas, New Fire-
stone All Terrain Tires, Running
Boards, 1 Owner
2004 Chevy 1500 LS, 58,878 act hrs,
4WD, Auto, Reg Cab, Long Bed,
A/C, P/S, P/B, Running Boards,
New Tires, 1 Owner
1973 Chevy C-60 Single Axle Truck,
23,463 miles, 350 Gas Eng, 4 & 2
Trans, P/S, Knapheide Combina-
tion Bed & Hoist w/Wooden Floor
TRACTOR:
2003 Case IH MXM120, 1761 act
hours, 4WD, CAH, Frt Fenders,
PowerReverser, 18 sp Power
Shift, 2 SCVs, 18.4 x 38 tires, 2
Sets of Rear weights, w/ Case IH
LX162 Loader, Wobble Stick Con-
trol, Global hook-up, 84” Smooth
Material Bucket & Bale Spear, 1
Owner
FARM EQUIPMENT:
IH 475 Disk, 18’, Hyd Fold
Landpride 3615 Cutter, 15’, Hyd Fold,
540 PTO, Laminated Tires, Frt
Safety Chains
New Idea 210 Manure Spreader, Sin-
gle Axle, PTO, w/Flail Beater
Rubber Tired Farm Wagon
Danuser Post Hole Digger, 3pt, 540
PTO, w/9” auger
24” Post Hole Auger
Bale Tote 2 Prong Bale Spear, 3pt
TOOLS – SUPPLIES – MISC:
Winpower PTO Generator, model
30/20 PTJD, 120 & 240V, Vortex
5.3
6 ‘ Wooden work table
2 – Wooden benches
2 Wagon loads of Misc Shop & Farm
Supplies
Lot of hand tools, shovels, spades,
hoes, etc.
Lot of fencing supplies
Kuker 15 gal ATV sprayer w/wand
Portable 110v, 3000lb, PSI pressure
washer
ANTIQUES, COLLECTIBLES & HOUSE-
HOLD:
Wooden pie safe w/tin door & sides
Maytag 110v wringer washer
Set of galvanized wash tubs on stand
2 #2 Galvanized tubs
4 Crocks
Enterprize meat grinder
Enterprize stuffer w/lard basket
White Mountain wooden cooler
Bull Durham glass cigar jar
Oak rocker
Maple sugar bucket
Wooden saddle stand
Leather military saddle w/bridle & bit
Antique wooden feed box w/lid
Lot of rag rugs
Lot of granite ware
Oval dining table w/ 4 matching
chairs
Oak dining table w/ 2 leaves
4 Oak pattern back straight chairs
Oak glass frt. kitchen cabinet w/
brass pulls
Oak curved glass china cabinet
Oak kitchen cabinet w/ metal pulls &
maple tops
Oak round lamp table w/ Queen Anne
legs
Living room set – coffee table & 2 end
tables
Walnut bedroom set – double bed,
dresser w/ mirror & chest
Wooden spool bed
Spool twin bed
Walnut double bed w/ spool head-
board
Wooden dresser w/ wishbone beveled
edge mirror
Bedroom set - Double bed, dresser w/
mirror & chest
Pine 4 drawer chest w/ wooden pulls
& glove boxes
Chest, 4 drawer
Wooden 3 drawer chest
Singer cabinet model sewing machine
Cedar chest
Wall desk
Pine desk
Walnut desk (pegged together)
Maple desk chair
Power recliner
Vinyl recliner
Westinghouse 46” flat screen TV
23 Cu/. ft. chest type freezer
Crosley auto. washer, white
Maytag electric dryer, white
Frigidaire refrigerator/freezer, tex-
tured frt. w/ ice maker, white
Lot of small electrical appliances
Lot of pictures
Lot of china & glassware
Lot of cookware
DOG PEN:
10’ x 10’ Chain link dog pen w/walk
through gate
ATV:
Commuter 3 wheeler w/Kawasaki gas
motor
WINDMILL:
Windmill w/4 legs, fan & tail (Must be
removed from this property within
30 days after auction date)
NOTE: We will start the auction by
selling household, collectibles,
antiques, farm and shop tools then
at noon we will sell the real estate
followed by the farm equipment
and vehicles. If weather
is inclement we will sell inside
the machine sheds.
TRACT MAP
FSA MAP